JPMorgan downgraded Consensus Cloud Solutions to Underweight from Neutral with a price target of $21, up from $19. Relative to the rest of the group, Consensus Cloud carries a lower sales and earnings growth profile, and its positioning makes it “structurally difficult to meaningfully accelerate growth in the near term,” the analyst tells investors in a research note. The firm says the company’s future artificial intelligence and interoperability solutions are not large enough at this stage to contribute meaningfully. With its updated price target representing 7% downside from the current price, JPMorgan downgrades Consensus Cloud to Underweight.
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